The demand for farm goods is income inelastic if the percentage change in quantity demanded is __________ the percentage change in __________

A) greater than; income
B) equal to; income
C) less than; income
D) greater than; revenue
E) less than; revenue

C

Economics

You might also like to view...

Which one of the following groups benefits from inflation?

a. Borrowers. b. Savers. c. Landlords. d. Lenders.

View
Economics

New classical economists believe that wages are inflexible

a. True b. False Indicate whether the statement is true or false

View
Economics